LendingClub’s LevelUp Checking Fuels Membership Growth and Loan Engagement
LendingClub’s LevelUp checking product has driven a sevenfold increase in account openings compared to previous offerings, with nearly 60% of new accounts opened by borrowers. The digital banking initiative has boosted monthly app logins by 50% and increased repeat loan issuance through mobile channels. Company executives reported strong loan demand and investor appetite during recent analyst discussions.
LevelUp Checking Accelerates LendingClub’s Digital Transformation
LendingClub Corporation’s LevelUp checking product is reportedly driving significant growth in account openings and borrower engagement, according to recent executive comments during an analyst conference call. Sources indicate the new checking product has generated a 7x increase in account openings compared to the company’s previous checking offering, with nearly 60% of new accounts being opened by existing borrowers.